Olli Rehn, Finnish member of the ECB, broke the delay: the European Central Bank will announce a package of stimulus measures at the next meeting on 12 September such as to exceed investors' expectations. The signal, all the more convincing because it came from a "hawk", instilled a little courage in the markets. Business Square advances by 1,09%, a thread better than Paris need Madrid (+0,9%) and of Frankfurt (+ 0,7%). London + 0,4%.
Rehn's words reinvigorated the bond market in the European periphery. Around 12 the spread between Btp and Bund rates on the 10-year segment it is 206 basis points, from 217 at the end of Wednesday's session. The 1,36-year rate settled at 1,52% from XNUMX% on Wednesday night. What suffers the most is the two-year stretch, due to the uncertainty of the political situation.
The banking sector benefits above all: Unicredit advances 1,8%, Intesa Sanpaolo 1,2%, Ubi by 2% e Bpm bank 1,8%.
Only in four days, perhaps, will they be light on the Italian crisis. In the meantime, there is no peace among the now former government allies in view of the communications in the Senate by the Prime Minister next Tuesday, which could sanction the formal opening of the crisis. Just Giuseppe Conte turned to Matteo Salvini in an open letter on Facebook, speaking of a government experience "now running out", accusing the Northern League leader of disloyalty in reference to the case of the treatment of migrants.
The tech sector stands out: from China there are indications in favor of stimuli for semiconductors. They advance ams, Infineon e stm (+ 1,4%).
The euro it goes to 1,109, -0,11%. He did not follow Donald Trump's latest antics: the offer in Copenhagen to buy the Greenland, already rejected by the kingdom, grappling with a new, singular record at the time of sub-zero rates: the third largest bank in the country offers loans at negative rates.
Petroleum up after two negative sessions. Brent futures rose by 1% to 58,86 dollars a barrel, while the same US contract rebounded by 1,1% to 55,1 dollars. Eni 0,3% salt, Saipem earn 1,4%.
Falling interest rates renews upward push for utilities: Enel it strengthens by 2,56%. Hidroelectrica, a Romanian hydropower producer, may be interested in Romanian assets being put up for sale by Cez and Enel as part of a strategy to diversify its sources of generation.
A2A rises by 1%. Snam e Terna + 2,2 %.
In great evidence Mediaset (+4,4%) supported by the role of Berlusconi's party in view of the elections, while on the industrial side the activity to build up Mediaset for Europe continues.
On the contrary, the automotive sector is weak throughout Europe. In Milan fca is down by 1,3%, Pirelli -1%.
In the rest of the price list the rally of Confinvest, the physical investment gold dealer who earns 10% and marks a new historical record at 2,75 euros. This is the fifth consecutive day of increases (+50% in the last 5 sessions).
